Acrysil hits the roof on commencing supply to IKEA

Acrysil hit an upper circuit of 5% at Rs 325.20 after the company said that it has commenced dispatches of quartz kitchen sinks to IKEA Supply AG.

On 20 August 2020, the company had entered into strategic partnership with IKEA Supply AG (Switzerland) for manufacturing and supply of composite quartz kitchen sinks for their global requirement.

Commenting on the same, Chirag Parekh, chairman & managing director, Acrysil, said: "Supply commencement to IKEA further adds to our already existing strong order books. The capacity expansions taken up by the company will help to cater to the demand in both international and domestic market."

Acrysil is engaged in manufacturing of composite quartz sinks. The company has a manufacturing plant at Bhavnagar, Gujarat and has a total installed capacity of 600,000 sinks per annum as on date. It deals in complete range of built-in kitchen appliances under "Carysil" brand and also offers bathroom solutions under the "Sternhagen" brand.

The company's consolidated net profit surged 77.42% to Rs 12.10 crore in Q3 FY21 from Rs 6.82 crore in Q3 FY20. Net sales during the quarter jumped 19.56% YoY to Rs 87.48 crore.

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